In today's landscape, a growing number of people are gravitating towards usage-based car insurance (UBI) for several compelling reasons:
1. Soaring Gas Prices: The rising cost of gas is prompting many to drive less frequently. Driving less often impacts insurance rates when you choose a UBI policy.
2. Extreme Weather Events: Increasingly severe weather-related incidents result in higher insurance premiums due to costly claims.
3. Technological Advances: Modern vehicle technology makes insurance claims more expensive, pushing premiums higher.
4. Safety Awareness: Insured drivers are realizing the importance of safe driving practices in keeping their premiums low.
Given these factors, now is an excellent time to consider UBI.
Understanding Usage-Based Car Insurance
Those who opt for UBI, also known as Telematics, install an app on their smartphone that tracks and reports on three key metrics:
- Distance Driven
- Time of Day Driven
- Driving Behaviour: Frequency and intensity of acceleration and braking
These factors help match a driver's risk level more accurately and reward safe driving with potential savings of up to 30% on insurance premiums.
Additionally, UBI offers two key benefits:
- Accident Assistance: The app provides valuable data if you're involved in an accident.
- Enhanced Safety: Drivers monitored through UBI tend to drive more cautiously.
While some might be hesitant about driver monitoring, it’s crucial to know that data is collected under strict privacy policies and is used solely with your consent. In the event of an accident, the information can be instrumental in determining fault.
For more details on UBI or to receive a quote, gather your insurance documents and contact us at
1-800-679-2640 or
info@easyinsure.ca.